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If the capital gains in your Sharesight Capital Gains Tax Report don't match the amount the ATO has pre-filled in myTax, the most common cause is unconfirmed trust distributions.

Note: The ATO receives your ETF and managed fund tax data directly from the fund (via the AMMA/AMIT statement), so its pre-fill usually includes your attributed capital gains. If Sharesight shows less, it's normally because those components haven't been confirmed yet — not because the ATO is wrong.

#1 cause: your annual tax components aren't confirmed

Trust investments (ETFs, managed funds, stapled securities) attribute capital gains to you each year — the discounted capital gains and other capital gains the fund realised by selling assets inside the fund. You declare these for the financial year even though you didn't sell your units.

In Sharesight, these attributed capital gains only flow into your Capital Gains Tax Report once the distribution is confirmed. Until then — even if Sharesight pre-filled the estimated components for you — they won't appear in your CGT Report, so your capital gains will look lower than the ATO's pre-fill.

How to check and fix:

1. Run the Taxable Income Report for the financial year with Show holding totals on.
2. Look for the lightning bolt icon — it marks unconfirmed (system-estimated) transactions.
3. Open each one, reconcile the components against your Annual Tax Statement, and click Save and confirm payout changes. (Step-by-step: ETFs in Sharesight.)
4. Re-run the Capital Gains Tax Report — the attributed gains will now be included.

Other reasons your figures may differ

• Estimated vs finalised components. Funds finalise their components from late August; lodging before they're in (or before confirming) can differ. See Why did each distribution amount change at tax time?.
• AMIT cost base adjustments don't appear this year — and that's correct. AMIT cost base increase/decrease (and tax-deferred amounts) don't affect current-year CGT; they adjust your cost base and only change your gain or loss when you sell. See Annual Tax Statement Components.
• Two kinds of capital gain. Your CGT Report includes both the fund's attributed gains and gains from selling your own units — make sure you're comparing like with like.
• Missing or unconfirmed trades or dividends. If holdings or payouts are missing or unconfirmed, income and gains will be understated. Check your holding quantities on the Portfolio Investments Page.
• ATO pre-fill timing. The ATO pre-fill loads progressively (often not complete until late July–October), so early in the season it may still be incomplete on the ATO side.

Tip: Reconcile at the yearly level — run the Taxable Income Report and Capital Gains Tax Report for the full financial year and check the totals against your Annual Tax Statement and the ATO pre-fill before you lodge.

Disclaimer

Sharesight does not provide taxation advice and this does not constitute personal taxation advice. If you have any questions about your tax position we recommend you contact your accountant or tax advisor.